Which of the following sources provides the raw material to prepare the financial statements?

Question

Quizplus · Accepted Answer

The adjusted trial balance contains all the necessary information to prepare the financial statements as it includes adjustments for accrued expenses, prepaid expenses, unearned revenues, depreciation, and other adjusting entries. The income statement and balance sheet from the previous year, as well as the unadjusted trial balance, only provide historical information and do not account for current adjustments.

Which of the Following Sources Provides the Raw Material to Prepare